Bitget Showcases Continuous Growth in User Assets with the May 2024 Proof of Reserves Update

Victoria, Seychelles, May 28th, 2024, Chainwire

Bitget, the global leader of cryptocurrency exchanges and Web3 technology, proudly reasserts its commitment to transparency while showcasing continuous growth in user assets through its latest May 2024 Proof of Reserves (PoR) update. This update underscores Bitget’s unwavering dedication to upholding robust reserves, ensuring the safety and security of user assets amid the ever-evolving crypto landscape.

Bitget’s latest May 2024 PoR report unveils an impressive total reserve ratio of 169%, significantly higher than the industry standard of 100%, with BTC and ETH ratios soaring to 295% and 209%, respectively. Furthermore, the update highlights substantial increases in user assets for USDT and ETH, with both figures witnessing remarkable growth of 64% and 72% since January 2024. These figures signify not only burgeoning user confidence but also reflect a strong momentum in user growth.

Gracy Chen, CEO at Bitget, highlighted the importance of the recent Proof of Reserves (PoR) update, emphasizing Bitget’s steadfast dedication to transparency and financial stability. Chen stated, “Bitget is resolute in its commitment to transparency and financial stability. Our latest PoR update reaffirms our commitment to protecting user assets and maintaining the utmost standards of accountability. With a total reserve ratio of 169%, Bitget remains at the forefront of the cryptocurrency exchange industry, setting an example for others to follow.”

Bitget’s commitment to transparency and security shines through in its regularly updated reserve ratios for leading cryptocurrencies such as BTC, ETH, USDT, and USDC. This dedication is a cornerstone of Bitget’s mission to offer users a safe and transparent trading environment. But Bitget’s transparency efforts don’t stop with Proof of Reserves (PoR) disclosures. The exchange goes further by establishing a Protection Fund and regularly publishing valuations to bolster user protection and mitigate potential risks.

According to Coinmarketcap data as of April 22, 2024, Bitget boasts total reserves surpassing $2.9 billion, solidifying its reputation as a dependable and trustworthy player in the cryptocurrency exchange arena. Through consistent audits, Bitget ensures ongoing visibility, demonstrating its commitment to openness and accountability.

Users can visit Bitget Proof of Reserves for more details.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

For more information, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

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